Cryptocurrencies

  Pros and cons of cryptocurrencies Today we will discuss the pros and cons of cryptocurrencies. At first, we may watch a video about whether the cryptocurrencies are a safe bet.  Many financial experts believe that cryptocurrency is a fad and believe that it will ultimately be worthless. However, Tesla CEO recently bought 1.5 billion bitcoins and said that his company will accept it as payment for its electric cars, and Mastercard Apple Pay and others now allow payments  Li (2021). S o how do you think about it?  Everything has two sides, now we summarise the pros and cons of cryptocurrencies.  Today, Bitcoin has been used as a means to transfer funds outside of traditional and regulated channels and is considered a speculative investment opportunity ( Velde, 2013). In next blog, I will analysis how to treat Bitcoin rationally.  References: 1. Li, Y (2021) Bitcoin surges above $46000 to record after Elon Musk’s Tesla buys $1.5 ...

  Comparison of cryptocurrency and fiat currency The nature of money develops over time. In the early stages of economic development, it is usually commodity currency, which is composed of things with market value (for example, precious metals in a non-coin state can be used as a medium of exchange, and even certain commodities such as cows, tea, salt, etc.) made.  After that, the money can be exchanged into a certain amount of gold or silver banknotes. Legal tender is legal tender, and its value is supposed by the government that issued it. The value of money is that people need to be able to rely on its value, and that value needs to be stable over time (Hall, 2017). Today, current currency can also exist independently of physical representation. Money can exist in a bank account in the form of computer entry, or it can exist in the form of a savings account. For example, digital cash or electronic money is the monetary value stored in a prepaid car or smart phone. Direct de...

How long can Bitcoin be "crazy"? Background:  On November 1st 2008, a person with the pseudonym Satoshi Nakamoto published a paper entitled "White Paper" on the Internet, proposing the idea of a new type of digital currency. Soon he wrote the program, and it started running on January 3rd 2009. He dug up the first Bitcoin block containing 50 Bitcoins. Since then, Bitcoin has been continuously mined by "miners" until the upper limit of 21 million is reached in 2140. At this time, Bitcoin is still a toy for every few programmers to do with the real world. Until May 2010, Laszlo Hanyecz, a programmer in Florida, USA, used 10,000 bitcoins to buy pizza coupons worth $25, setting a price for bitcoin for the first time. Today these bitcoins are worth 40 million U.S. dollars. you can imagine Laszlo's expression of regret. Haha!!!!! In February 2011, the price of Bitcoin only reached $1, and it began to attract people's attention. Since then, prices have st...